8 May 2019, OctaFX – The British pound has fallen to a fresh weekly trading low against the US dollar after bulls failed to stabilize the pair above the 1.3064 resistance level.
GBPUSD technical analysis
GBPUSD sellers may soon start to target towards the 1.2990 level if the 1.3030 support level is broken. Technicals indicators across the four-hour time frame are still turning lower as intraday downside pressures increase.
The GBPUSD pair is heavily bearish while trading below the 1.3064 level, key support is found at the 1.3030 and 1.2990 levels.
If the GBPUSD pair trades above the 1.3064 level, key intraday resistance is found at the 1.3100 and 1.3135 levels.
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